I was talking to one of my Business of Racing sources who is connected to Wall St. the way Don Schumacher is the drag strip. As it was mid-May, and this fellow has family ties to Indiana, some Indianapolis 500 discussion was as natural as guys wanting to have their picture taken with Courtney Force.
My briefcase-carrying contact had briefly met Mark Miles, who is not only the new CEO of the Indianapolis Motor Speedway and Izod IndyCar series, but all of the business enterprises owned by the Hulman-George family. Miles is the fourth different series leader in as many years, and that management instability is one reason the Speedway and the series face so many challenges to regain lost media coverage, TV audience, ticket buyers and corporate support.
“Stable leadership is essential in business,” my friend said. “Uncertainty makes people nervous, unsure, very cautious. Especially when they are considering a seven or eight figure sponsorship. It makes them tend to back away.”